Question 1: The behavioral functions are given as follows.C = 20 + 0.8(Y T); I = 14; G = 20; T = 10; IM = 0.5Y; X = 0.
September 3, 2020
The United States faced another economic crisis in 1857. Which of the following was an important factor leading up to this crisis?
September 3, 2020
  • Why is the demand for labor called a derived demand?
  • In the labor market, what are the firm’s demand curve for labor and the workers’ supply curve of labor?
  • How is a firm’s wage normally determined in the labor market?
  • How could Amazon decide to raise its minimum wage to $15 per hour, despite the federal minimum wage being fixed at $7.25 per hour?
  • What are positive and negative effects of Amazon raising its minimum wage to $15 per hour on its employees, total revenue, and other companies and their employees?
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